113Entrepreneurs have more job security than employeesThe 85k employees company I was working for in 2001 shut down inone week because 20 guys had shredded some papers in Houston. As anentrepreneur, I can work on week-ends, call my contacts and ask forbusiness. Employee does not control anything. Entrepreneur does.

53 Go for attitude over
experience vice.com recruits people coming out of schools with no experience, because they have not been formatted by how things are done elsewhere, and will want to prove themselves

54 What you need to
succeed in startups is not an expertise in startups. It’s an expertise in clients

55 Hire people who have
options Good people will always have multiple options on the table. Convince them that you provide the best way to spend their precious time. People with options are not dependent on you as an employer, and will be more truthful

64 4 things that lead
to better performance: Fairness: knowing that you're being paid a reasonable amount for your work so that money no longer becomes an issue. Autonomy: controlling events in your work life by choosing what you want to do and when you want to do it. Mastery: excelling at a craft that you enjoy and being recognized as a master by peers that you respect. Purpose: feeling that what your work is helping other people and changing the world in a positive way. http://www.inc.com/geoffrey-james/the-true-secret-of-employee-motivation.html

82 Opportunistic ≠ strategic You
can either pursue every opportunity - in which case you’re not really deciding where you’re going - or have a clear strategy and reject opportunities that don’t fit in. Opportunities will take you somewhere fast, strategy will take you somewhere far.

Peter Thiel: “You want to
be the last mover, not the first” Google is the last search engine. Facebook is the last social network (for now at least). 92

93 Find a small market
inside which you can have a monopoly Amazon started with books, expanded to commerce in general. Lending club started with peer to peer loans, now expands to lending in general. Uber started with taxis, will expand to everything related to transportation.

104 “No candle-maker has become
a bulb manufacturer, no carriage-maker has become a car producer, and the post office did not invent the email.” Marc Giget http://perspectives.pictet.com/2013/06/19/interview-with-prof-marc-giget/ Radical innovation rarely comes from incumbents

113 Entrepreneurs have more job
security than employees The 85k employees company I was working for in 2001 shut down in one week because 20 guys had shredded some papers in Houston. As an entrepreneur, I can work on week-ends, call my contacts and ask for business. Employee does not control anything. Entrepreneur does.

119 Zuckerberg could have sold
Facebook 500 times. His motivation is not money. Facebook has had countless offers: an unnamed investor offered $10 million in June 2004, Friendster was interested in a purchase, Google offered to buy or partner in the summer of 2004, Viacom offered $75 million in March 2005, Myspace wanted to buy in spring 2005, News Corp (Myspace's parent company) wanted to in January 2006, Viacom came back in 2005, NBC was also interested soon after, Viacom again made an offer of $1.5 billion in 2006, Yahoo offered $1 billion in June 2006, AOL also considered $1 billion soon after, Yahoo came back again at the end of 2006, and finally Google offered $15 billion in 2007. http://www.zdnet.com/article/mark-zuckerberg-was-planning-to-sell-facebook-in-july-2004/

133 Gain Creators Describe how
your products and services create customer gains. How do they create benefits your customer expects, desires or would be surprised by, including functional utility, social gains, positive emotions, and cost savings? Do they… Create savings that make your customer happy? (e.g. in terms of time, money and effort, …) Produce outcomes your customer expects or that go beyond their expectations? (e.g. better quality level, more of something, less of something, …) Pain Relievers Copy or outperform current solutions that delight your customer? (e.g. regarding speciﬁc features, performance, quality, …) Make your customer’s job or life easier? (e.g. ﬂatter learning curve, usability, accessibility, more services, lower cost of ownership, …) Create positive social consequences that your customer desires? (e.g. makes them look good, produces an increase in power, status, …) Do something customers are looking for? (e.g. good design, guarantees, speciﬁc or more features, …) Fulﬁll something customers are dreaming about? (e.g. help big achievements, produce big reliefs, …) Produce positive outcomes matching your customers success and failure criteria? (e.g. better performance, lower cost, …) Help make adoption easier? (e.g. lower cost, less investments, lower risk, better quality, performance, design, …) Rank each gain your products and services create according to its relevance to your customer. Is it substantial or insignificant? For each gain indicate how often it occurs. Describe how your products and services alleviate customer pains. How do they eliminate or reduce negative emotions, undesired costs and situations, and risks your customer experiences or could experience before, during, and after getting the job done? Do they… Produce savings? (e.g. in terms of time, money, or efforts, …) Make your customers feel better? (e.g. kills frustrations, annoyances, things that give them a headache, …) Fix underperforming solutions? (e.g. new features, better performance, better quality, …) Put an end to difﬁculties and challenges your customers encounter? (e.g. make things easier, helping them get done, eliminate resistance, …) Wipe out negative social consequences your customers encounter or fear? (e.g. loss of face, power, trust, or status, …) Eliminate risks your customers fear? (e.g. ﬁnancial, social, technical risks, or what could go awfully wrong, …) Help your customers better sleep at night? (e.g. by helping with big issues, diminishing concerns, or eliminating worries, …) Limit or eradicate common mistakes customers make? (e.g. usage mistakes, …) Get rid of barriers that are keeping your customer from adopting solutions? (e.g. lower or no upfront investment costs, ﬂatter learning curve, less resistance to change, …) Rank each pain your products and services kill according to their intensity for your customer. Is it very intense or very light? For each pain indicate how often it occurs. Risks your customer experiences or could experience before, during, and after getting the job done? Products & Services List all the products and services your value proposition is built around. Which products and services do you offer that help your customer get either a functional, social, or emotional job done, or help him/her satisfy basic needs? Which ancillary products and services help your customer perform the roles of: Buyer (e.g. products and services that help customers compare offers, decide, buy, take delivery of a product or service, …) Co-creator (e.g. products and services that help customers co-design solutions, otherwise contribute value to the solution, …) Transferrer (e.g. products and services that help customers dispose of a product, transfer it to others, or resell, …) Products and services may either by tangible (e.g. manufac- tured goods, face-to-face customer service), digital/virtual (e.g. downloads, online recommendations), intangible (e.g. copyrights, quality assurance), or financial (e.g. investment funds, financing services). Rank all products and services according to their importance to your customer. Are they crucial or trivial to your customer? Gains Describe the benefits your customer expects, desires or would be surprised by. This includes functional utility, social gains, positive emotions, and cost savings. Which savings would make your customer happy? (e.g. in terms of time, money and effort, …) What outcomes does your customer expect and what would go beyond his/her expectations? (e.g. quality level, more of something, less of something, …) How do current solutions delight your customer? (e.g. speciﬁc features, performance, quality, …) Pains Customer Job(s) Describe negative emotions, undesired costs and situations, and risks that your customer experiences or could experience before, during, and after getting the job done. What does your customer ﬁnd too costly? (e.g. takes a lot of time, costs too much money, requires substantial efforts, …) What makes your customer feel bad? (e.g. frustrations, annoyances, things that give them a headache, …) How are current solutions underperforming for your customer? (e.g. lack of features, performance, malfunctioning, …) What are the main difﬁculties and challenges your customer encounters? (e.g. understanding how things work, difﬁculties getting things done, resistance, …) What negative social consequences does your customer encounter or fear? (e.g. loss of face, power, trust, or status, …) What risks does your customer fear? (e.g. ﬁnancial, social, technical risks, or what could go awfully wrong, …) What’s keeping your customer awake at night? (e.g. big issues, concerns, worries, …) What common mistakes does your customer make? (e.g. usage mistakes, …) What barriers are keeping your customer from adopting solutions? (e.g. upfront investment costs, learning curve, resistance to change, …) Rank each pain according to the intensity it represents for your customer. Is it very intense or is it very light.? For each pain indicate how often it occurs. Describe what a specific customer segment is trying to get done. It could be the tasks they are trying to perform and complete, the problems they are trying to solve, or the needs they are trying to satisfy. What functional jobs are you helping your customer get done? (e.g. perform or complete a speciﬁc task, solve a speciﬁc problem, …) What social jobs are you helping your customer get done? (e.g. trying to look good, gain power or status, …) What emotional jobs are you helping your customer get done? (e.g. esthetics, feel good, security, …) What basic needs are you helping your customer satisfy? (e.g. communication, sex, …) Besides trying to get a core job done, your customer performs ancillary jobs in different roles. Describe the jobs your customer is trying to get done as: Buyer (e.g. trying to look good, gain power or status, …) Co-creator (e.g. esthetics, feel good, security, …) Transferrer (e.g. products and services that help customers dispose of a product, transfer it to others, or resell, …) Rank each job according to its significance to your customer. Is it crucial or is it trivial? For each job indicate how often it occurs. Outline in which specific context a job is done, because that may impose constraints or limitations. (e.g. while driving, outside, …) What would make your customer’s job or life easier? (e.g. ﬂatter learning curve, more services, lower cost of ownership, …) What positive social consequences does your customer desire? (e.g. makes them look good, increase in power, status, …) What are customers looking for? (e.g. good design, guarantees, speciﬁc or more features, …) What do customers dream about? (e.g. big achievements, big reliefs, …) How does your customer measure success and failure? (e.g. performance, cost, …) What would increase the likelihood of adopting a solution? (e.g. lower cost, less investments, lower risk, better quality, performance, design, …) Rank each gain according to its relevance to your customer. Is it substantial or is it insignificant? For each gain indicate how often it occurs. strategyzer.com The Value Proposition Canvas Value Proposition Customer Segment The makers of Business Model Generation and Strategyzer Copyright Business Model Foundry AG Produced by: www.stattys.com